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Fs fsu & ocean port 5 2013
- 1. PT 4848 Globallink & PT 4848 Global System Business Plan
- 2. Floating Storage Unit (FSU) FEASIBILTY STUDY PT 4848 Globallink
- 3. OVERVIEW STUDY ON PURCHASE OF VLCC TO OPERATE AT DURIAN STRAITS AS FLOATING STORAGE UNIT (FSU) TWO COMPANIES WILL BE SET UP TO OPERATE SHIP OWNING COMPANY TO PURCHASE THE VESSEL AS OWNER AND WILL APPOINT THIRD PARTY SUCH AS THOME SHIPMANAGEMENT AS TECHNICAL MANAGERS. COMMERCIAL COMPANY TO TIME CHARTER THE VESSEL AND OPERATE AS FLOATING STORAGE. THE COMPANY WILL OPERATE ALL COMMERCIAL ACTIVITIES AND WILL LIASE WITH STS OPERATOR SUCH AS FENDER CARE FOR THE STS OPERATION.
- 4. OVERVIEW
- 5. SHIP OWNING COMPANY COST No DETAIL USD A PURCHASE COST OF VLCC “LA PRUDENCIA” ESTIMATE 21.0M B MOBILISATION COST 0.5M C PAID UP CAPITAL 5.0M D LOAN 16.5M E DAILY OPERATION COST USD PER DAY 12,000 F DAILY INCOME USD PER DAY (BASIS MARKET TIME CHARTER RATE TO COMMERICAL COMPANY) 16,000 G CASH ACCUMULATED (END OF FIVE YEARS) 6,0M H SCRAP VALUE (AT USD470 PER LIGHT WEIGHT) 19.2M I NET PROFIT USD (25.2M-21.5M) 3.7M J NO REPAYMENT OF LOAN OVER FIVE YEARS - K REQUIRE ADDITIONAL FOR FIRST YEAR WORKING CAPITAL 1.5M
- 6. COMMERCIAL COMPANY COST SCENARIO ONE (BASIS 1 THROUGHPUT) No DETAIL USD A TIME CHARTER PER DAY FOR FIVE YEARS FROM SHIPOWNING COMPANY 16,000 B TIME COST PER MONTH 480K C BUNKER COST PER MONTH 530K D PORT COST PER MONTH 70K TOTAL COST PER MONTH 1080K E ONE THROUGHPUT COST - USD 4.0 PER METRIC TONS 270K
- 7. COMMERCIAL COMPANY COST SCENARIO TWO (BASIS 1.5 THROUGHPUT) No DETAIL USD A TIME CHARTER PER DAY FOR FIVE YEARS FROM SHIPOWNING COMPANY 16,000 B TIME COST PER MONTH 480K C BUNKER COST PER MONTH 654K D PORT COST PER MONTH 70K TOTAL COST PER MONTH 1204K E ONE THROUGHPUT COST - USD 4.0 PER METRIC TONS 405K
- 8. RENTAL INCOME SCENARIO ONE (BASIS 1 THROUGHPUT) • USD 4.25 PER METRIC TONS AT ONE THROUGHPUT OF 270,000MTS MARKET STORAGE RENTAL RATE • 270,000MT X 4.25PMT REVENUE USD 1147K • USD 1147K - USD1080K PROFIT USD 67K PER MONTH
- 9. RENTAL INCOME SCENARIO TWO (BASIS 1.5 THROUGHPUT) • USD 4.25 PER METRIC TONS AT ONE THROUGHPUT OF 270,000 MTS AND • USD 1.50 PER METRIC TONS FOR ADDITIONAL 0.5 THROUGHPUT OF 135,000 MTS MARKET STORAGE RENTAL RATE • 270,000 MT X 4.25 PMT + 135,000 MT X 1.5 REVENUE USD 1349K • USD 1349K – USD 1204K PROFIT USD 145K PER MONTH
- 10. SHIP MANNING Ship Owning Company To Be Register Outside Indonesia Commercial Company To Be Register In Indonesia Indonesian Flag For Convenient STS Operation In Indonesia Indonesian Crews For Lower Operating Cost Technical Management By “Thome Ship” Management
- 11. SUMMARY Floating Storage Unit FEASIBILTY STUDY • TOTAL PROFIT OF USD 3.7M • BASIS ABOVE ASSUMPTION • RISK OF LOWER PROFIT FOR SHIPOWNING COMPANY IF SCRAP VALUE BELOW CURRENT USD 470 PER LIGHT WEIGHT TON FOR SHIPOWNING COMPANY • NETT RENTAL PROFIT OF USD 4.0M (67K X 12 X 5YRS) • BASIS 1.0 THROUGHPUT FOR COMMERCIAL COMPANY • NETT RENTAL PROFIT OF USD 8.7M (145K X12 X 5YRS) • BASIS 1.5 THROUGHPUT FOR COMMERCIAL COMPANY • FROM EXISTING STS LOCATION • AT KARIMUM, NIPA, BATAM • PASIR GUDANG AND TANJUNG PELAPAS POTENTIAL COMPETITIONS
- 12. PT 4848 GLOBAL SYSTEM SELAT DURIAN ANCHORAGE & SHIP-TO- SHIP TRANSFER AREA
- 14. SELAT DURIAN STRATEGYC LOCATION
- 15. Durian Strait Port Operation LOCATION INDONESIA STS LOCATION BOUNDED BY THE FOLLOWING CO-ORDINATES • LAT 01’00.50’’ LONG 103’38.15” • LAT 01’00.50” LONG 103’41.30” • LAT 00’56.50” LONG 103’38.30” • LAT 00’56.50” LONG 103’36.20” DEEPER DRAFT AND LESS CONGESTED THAN OTHER STS LOCATION LIKE TANJUNG PELAPAS AND PASIR GUDANG EASY ACCESSIBLE TO FACILITIES LOCATED NEAR BATAM
- 16. Durian Strait Port Operation Cost Information (Port Cost) SUEZMAX US$27,000 Tanker 160000DWT VLCC US$44,000 AFRAMAX US$22,000 TANKER = between 79000 - 120000 DWT MEDIUM SIZE US$15,000
- 17. • ONE FENDER & HOSE • TWO SUPPORT CRAFT / TUG FOR DEMOBILISING THE STS EQUIPMENT • TWO TUGS FOR MOORING OPERATION • ONE TUG FOR UNMOORING OPERATION • ONE TUG STANDBY THROUGHOUT STS OPERATION • MOORING MASTER AND/OR STS SUPERINTENDENT STS EQUIPMENT Rental COST US$41,000 FOR 3rd Party for FIRST 48HRS WITH FOLLOWING INCLUSIVE: Durian Strait Port Operation Cost Information (Port Cost)
- 18. PT 4848 Global System P&L FORECAST Assumption based on current Jetty operation at Tankstore Singapore 200 Ships alongside at 10 available Jetties permonth for variuos vessel -- For One VLCC assumption is for 2 Jetties (side by side) US$ 000 INCOME (60 months) Sea Port VLCC (50% of 70K)/Month 2.100 Investment Cost* 3.000 Sea Port Dues 80vs/month average 30K DWT 12.240 Sunk Cost 3.000 Supporting Activities Fees (Tug Boat, Crew Boat, Fender etc) 4.590 6.000 Lay Up, STS, & Anchorage Activites (25% increase for 1st 5 yrs) 3.767 Cash accumulated 22.697 22.697 Total Income 22.697 Less LESS EXPENSES Cost 7.774 Manpower expenses (20% yearly increase) 4.770 Loan 6.000 13.774 Offices expenses (25% of Maintenance VLCC) 1.144 Net Cash 8.923 Management Expenses (= VLCC - 3% yearly increase) 860 Others 750 Investment Cost for: Insurance 250 Oil Boom Total Expenses 7.774 Buoys PROFIT BEFORE TAX/CASH GENERATED 14.923 Navigation Light LESS Interest on Loans 1pct for 5 yr repayment 300 Communication Equipment NET PROFIT 14.623 Crew Boat
- 19. PT 4848 GLOBAL SYSTEM COSTING
- 20. SUMMARY Durian Strait Port Operation • TOTAL PROFIT OF USD 22.7M FOR FIRST 5 YEARS ON OPERATION • BASIS ON ONE FSU ON OPERATION FOR PT 4848 GLOBAL SYSTEM COMPANIES • INCOME FROM RENTAL OF PURCHASING SUPPORTING FACILITIES SUCH AS TUG BOAT, POTENTIAL SOURCES INCOMES
- 21. NAV & FUNDING REQUIREMENT NO INVESTMENT ITEM 2013 2014 2015 1 2 3 4 1 2 3 4 1 2 3 4 1 PURCHASE VLCC 2 MODIFY FOR FSU 3 PURCHASE CREW BOAT 4 PURCHASE SUPPORTING FACILITIES FUND REQUIREMENT IN $MM 21 3.5 NAV = ASSET – LIABILITIES/(OUTSTANDING SHARES)